Micron Erases Post-Earnings Slide as Analysts Lift Targets to $2,100
MU has more than doubled off its 52-week low of $165.5.
Summary
Micron shares reversed an early 4% drop to trade up nearly 2% after its Q4 beat, as Wall Street analysts raised price targets. Rosenblatt lifted its target to $1,900 from $1,500, DA Davidson to $2,100 from $2,000, and Mizuho to $1,400 from $1,300. The company reported revenue of $54.23B, up 379% year-over-year, and guided next-quarter revenue to $61.5B, above consensus. This follows the record Q4 results reported late Wednesday and the earlier analyst reactions this morning. The stock's recovery and the magnitude of the target increases suggest the market is now pricing in stronger AI-driven memory demand.
At the time of this announcement, MU was trading at $1,091.73 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.2T. The 52-week trading range was $165.50 to $1,255.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Benzinga.